Archer Aviation Inc. (NYSE:ACHR) Major Shareholder N.V. Stellantis Purchases 800,000 Shares

Archer Aviation Inc. (NYSE:ACHR) major shareholder N.V. Stellantis purchased 800,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was acquired at an average cost of $4.60 per share, for a total transaction of $3,680,000.00. Following the transaction, the insider now owns 35,451,720 shares in the company, valued at approximately $163,077,912. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

N.V. Stellantis also recently made the following trade(s):

• On Monday, March 11th, N.V. Stellantis acquired 800,000 shares of Archer Aviation stock. The stock was bought at an average cost of $4.83 per share, with a total value of $3,864,000.00.

Archer Aviation Stock Up 7.0 %

NYSE:ACHR traded up $0.34 on Tuesday, hitting $5.12. The stock had a trading volume of 9,797,829 shares, compared to its average volume of 5,196,961. Archer Aviation Inc. has a 1 year low of $1.77 and a 1 year high of $7.49. The firm’s fifty day simple moving average is $5.05 and its two-hundred day simple moving average is $5.55. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.21 and a current ratio of 4.21. The stock has a market cap of $1.59 billion, a P/E ratio of -2.96 and a beta of 2.45.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research report on Tuesday, February 27th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Archer Aviation presently has a consensus rating of “Buy” and a consensus target price of $9.60.

Institutional Trading of Archer Aviation

A number of institutional investors and hedge funds have recently modified their holdings of the business. Grove Bank & Trust purchased a new position in Archer Aviation in the third quarter worth $27,000. Versant Capital Management Inc purchased a new position in shares of Archer Aviation in the 3rd quarter worth about $28,000. Exchange Traded Concepts LLC bought a new position in Archer Aviation during the third quarter valued at about $37,000. Vestor Capital LLC purchased a new stake in Archer Aviation during the fourth quarter worth about $61,000. Finally, Moneta Group Investment Advisors LLC bought a new stake in Archer Aviation in the fourth quarter worth about $62,000. 45.07% of the stock is owned by hedge funds and other institutional investors.

About Archer Aviation

Archer Aviation Inc, an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc Archer Aviation Inc was incorporated in 2018 and is headquartered in San Jose, California.